UPDATE: Jefferies & Company Reiterates Hold Rating, Raises PT on Hancock Holding Company

In a report published Monday, Jefferies & Company reiterated its Hold rating on Hancock Holding Company

, and slightly raised its price target from $31.00 to $32.00. Jefferies noted, “While earnings were roughly in-line with expectations, underlying prospects for loan growth improved, pushing our estimates up a shade. However, it will be difficult for the company to generate significant earnings growth in the next couple of years as accretable yield from Whitney slows and incremental efficiency gains could be difficult in the face of new business initiatives.” Hancock Holding Company closed on Friday at $31.25.